IL&FS Transportation Networks (ITNL) is trading higher by 3% at Rs 117, extending its previous day’s 6% rally, after the board has approved issue of debentures worth of Rs 100 crore via private placements.
The company said that the Committee of Directors approved the allotment of 1,000 rated, listed, redeemable, non-convertible debentures of the face value of Rs 1 million each aggregating to Rs 100 crore. These debentures will be listed on the NSE, the company said.
Earlier, the company announced an issue price at Rs 100 per share for the proposed rights issue. The company plans to mobilize about Rs 550 crore by issuing 52.4 million equity shares.
At a meeting of the company's board of directors held on Tuesday, March 4, it was decided to fix the issue price at Rs 100 per share of Rs 10 face value, IL&FS Transportation Networks said in a BSE filing.
The stock opened at Rs 115 and touched a high of Rs 118 on the BSE. A combined around 88,000 shares changed hands on the BSE and NSE.
The company said that the Committee of Directors approved the allotment of 1,000 rated, listed, redeemable, non-convertible debentures of the face value of Rs 1 million each aggregating to Rs 100 crore. These debentures will be listed on the NSE, the company said.
Earlier, the company announced an issue price at Rs 100 per share for the proposed rights issue. The company plans to mobilize about Rs 550 crore by issuing 52.4 million equity shares.
At a meeting of the company's board of directors held on Tuesday, March 4, it was decided to fix the issue price at Rs 100 per share of Rs 10 face value, IL&FS Transportation Networks said in a BSE filing.
The stock opened at Rs 115 and touched a high of Rs 118 on the BSE. A combined around 88,000 shares changed hands on the BSE and NSE.